An investigation into a construction firm sparks allegations of bribes from Panama to Peru.
Prosecutors in Panama have arrested the partners of a law firm involved in last year’s Panama Papers scandal in which thousands of documents related to offshore accounts were leaked.
Two Honduran executives allegedly used a Panamanian business and a US bank to pay $2.5 million in bribes, suggesting that banks based in Panama and the United States may be involved in one of the biggest corruption cases in Honduras.
A preparatory document for MEPs of the Panama Papers committee of inquiry has suggested that the committee’s focus should be on the alleged failure to enforce anti-money laundering rules, and taxation and auditing directives.
From the Panama Papers to the impeachments of the presidents of Brazil and South Korea, 2016 was a year marked by corruption scandals, and by rising public outrage over graft.
In a major boost to global efforts to fight wildlife crime, a consortium of 11 organizations shone a light on illicit financial flows and corruption during the 17th International Anti-Corruption Conference (IACC) in Panama identifying a series of steps to help tackle the scourge.
Panama can remain a competitive financial centre while cracking down on tax evaders and other criminals who have used the country to launder money, according to the panel formed by the government after the “Panama Papers” scandal broke in April.
The British Virgin Islands independent regulator, the Financial Services Commission (FSC), has fined the local arm of the Panama Papers law firm, Mossack Fonseca, $440,000 for its contravention of numerous sections of the Anti-Money Laundering and Terrorist Financing Code of Practice and BVI Regulatory Code.
There needs to be a “comprehensive global approach” against secret tax structures, says the Nobel Prize-winning economist, Joseph Stiglitz, who called for “zero tolerance”. Speaking to Parliament’s Panama Committee on Wednesday, the former advisor to the Panamanian government suggested that secrecy in tax affairs should be treated like a disease which needs to be isolated.
On November 8, 2016, Indian Prime Minister Narendra Modi announced in a televised speech that 500 and 1,000 rupee notes would no longer be legal tender, swiftly rendering 86 per cent of cash in the ...
Tom Devlin, barrister and partner at Stephen Platt and Associates LLP, unpicks recent anti-money laundering scandals in the finance industry. He looks in detail at what went wrong, how word got out, and how the failings ...
The Laundromat is a name given by the Organized Crime and Corruption Reporting Project to a vast money-laundering scheme. Between autumn 2010 and spring 2014 Russian officials and insiders moved billions of dollars into Europe, ...
The Financial Conduct Authority (FCA) is being scrutinised by a government audit, alongside a number of other agencies focused on preventing scams and economic crime. According to the Financial Times the FCA is one of a ...
The United States has blacklisted nearly all Latin American countries for money laundering in 2017. InSight Crime explores why this is the case, and discusses some of the achievements and failings of regional anti-money-laundering efforts ...
Business pressure to weaken bribery laws and government’s inability to focus on non-Brexit issues are also concerns, says group.
Crime gangs are exploiting corruption at European borders to smuggle vast quantities of illicit goods, a new report warns.
As part of the EU, the UK has to adhere to the Anti-Money Laundering Directive which is looking at transparency of trusts – but not for much longer.
Three units of London-based Barclays Plc have been penalized by Australia’s securities regulator for failing to tell clients they didn’t hold local financial services licenses and instead were regulated overseas.